What to do if a creditor has not come to pick up propertysurrendered in a bankruptcy?
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What to do if a creditor has not come to pick up propertysurrendered in a bankruptcy?
I filed for bankruptcy and it has been dissolved however I still have a motorcycle that was supposed to be repossessed. I contacted them but still have the bike.
Asked on January 21, 2011 under Bankruptcy Law, California
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
I am assuming that the creditor is the bank that financed the bike, correct? Well do not do anything foolish like sell it or ride it. It is not yours to use or anything else anymore. Sometimes it takes a while for creditors to get around to things after a bankruptcy. The perfect example is a foreclosure proceeding that could take years after the bankruptcy is complete. But I can understand how you would not want to be responsible for the bike any longer. What if something happens to it? I would sen a letter by certified mail to the creditor and copy the trustee. State that the bike is ready to be transported and that it is no longer insured nor resigetred to you and that you are no longer responsible for the bike and wish it to be removed from your property forthwith. Good luck.
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